This article has been disseminated on behalf of Largo Inc. and may include paid advertising.
Largo (TSX: LGO) (NASDAQ: LGO) reported second-quarter 2026 revenue of $44 million, up 68.5% from $26.1 million a year earlier, as vanadium pentoxide production increased 28.5% to 2,900 tonnes and sales rose 53.5% to 2,773 tonnes. Adjusted EBITDA increased to $2.7 million from $34,000, while Mining Operations Adjusted EBITDA rose 64.8% to $4.4 million. The company recorded a net loss of $22.7 million, reflecting primarily noncash items and higher costs, and ended the quarter with $5.1 million in cash and $114.2 million in debt. Largo reiterated 2026 guidance for V2O5 equivalent production of 10,500 to 12,000 tonnes and sales of 7,500 to 9,500 tonnes.
Subsequent to the quarter, Largo secured a $60.1 million delivery order from the U.S. Defense Logistics Agency Strategic Materials and began full-scale copper-platinum group metals (“PGM”) concentrate production at its Maracás Menchen Mine following Brazilian regulatory approval. Largo expects copper-PGM concentrate production of approximately 300 to 380 tonnes per month, with an average grade of approximately 15% copper and 41 grams per tonne of PGMs, creating an additional potential revenue stream using existing infrastructure. The company also reported stronger vanadium pricing during the quarter, including a 45.8% increase in the average U.S. ferrovanadium benchmark price from a year earlier.
To view the full press release, visit https://nnw.fm/iui1s
About Largo
Largo is the world’s largest primary vanadium producer and a globally recognized supplier of high-quality vanadium products, sourced from its world-class Maracás Menchen Mine in Brazil. As one of the world’s largest primary vanadium producers, Largo produces critical materials that empower global industries, including steel, aerospace, defense, chemical, and energy storage sectors. The Company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers.
Largo is also strategically invested in the clean energy storage sector through its 37.4% ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the U.S.
The Company also holds a 100% interest in the Northern Dancer Tungsten-Molybdenum property located in the Yukon Territory, Canada, and a 100% interest in the Currais Novos Tungsten Tailing Project near Natal, Brazil. Preliminary economic assessments were completed for each asset in 2011.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol “LGO”.
For more information, please visit: https://www.largoinc.com/
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